Medtronic (NYSE:MDT) Stock Gets Downgrade from Wall Street Zen

Medtronic (NYSE:MDT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms have also commented on MDT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $92.00 price objective on shares of Medtronic in a research report on Thursday, September 3rd. Stifel Nicolaus boosted their target price on shares of Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, September 2nd. UBS Group restated a “cautious” rating on shares of Medtronic in a research report on Wednesday, October 14th. Bank of America lifted their price target on Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Weiss Ratings upgraded Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $102.88.

Medtronic Stock Down 0.6%

Shares of MDT stock opened at $96.55 on Friday. The company’s fifty day simple moving average is $91.70 and its two-hundred day simple moving average is $88.34. Medtronic has a 52 week low of $73.31 and a 52 week high of $106.33. The stock has a market cap of $123.50 billion, a P/E ratio of 23.78, a PEG ratio of 2.27 and a beta of 0.55. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The firm had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Analysts predict that Medtronic will post 5.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Geoffrey Martha sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of the sale, the chief executive officer directly owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. This trade represents a 15.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Marinaro sold 10,420 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $96.00, for a total value of $1,000,320.00. Following the completion of the transaction, the executive vice president directly owned 105,916 shares in the company, valued at $10,167,936. This trade represents a 8.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 61,903 shares of company stock valued at $5,889,203. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after purchasing an additional 838,220 shares during the period. State Street Corp grew its holdings in Medtronic by 2.7% in the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after purchasing an additional 1,658,301 shares during the period. Bank of America Corp DE increased its position in shares of Medtronic by 5.4% in the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock valued at $2,254,200,000 after buying an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Medtronic by 37.2% in the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock valued at $1,078,321,000 after buying an additional 3,739,288 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new position in shares of Medtronic during the 1st quarter worth approximately $965,922,000. Institutional investors own 82.06% of the company’s stock.

About Medtronic

Medtronic plc (NYSE: MDT) is a global medical technology company that develops, manufactures and distributes devices and therapies used to diagnose, treat and manage a broad range of medical conditions. Its products support healthcare providers in areas including cardiac and vascular care, diabetes, neuroscience, surgical procedures and patient monitoring.

The company’s offerings include pacemakers, implantable defibrillators, heart valves and other structural heart products; insulin pumps and continuous glucose monitoring technologies; spinal and neurosurgical systems; deep-brain and spinal cord stimulation devices; surgical instruments and robotic-assisted technologies; and respiratory and patient-monitoring equipment.